SPX: CONGESTION! Is it a good time to buy? ðĪ
âĒ As we expected, it seems the index is trapped inside a channel, in the 1h chart;
âĒ We identified this channel in my last public analysis, yesterday â link below this post;
âĒ Now, the SPX is just heading to the next resistance, which is the upper line;
âĒ The 21 EMA is completely flat, indicating nothing but short-term congestion;
âĒ In this scenario, only a clear breakout (to any direction) might change things. For now, there's nothing much to do. Iâll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
âĒ We identified this channel in my last public analysis, yesterday â link below this post;
âĒ Now, the SPX is just heading to the next resistance, which is the upper line;
âĒ The 21 EMA is completely flat, indicating nothing but short-term congestion;
âĒ In this scenario, only a clear breakout (to any direction) might change things. For now, there's nothing much to do. Iâll keep you updated on this.
Remember to follow me to keep in touch with my daily analyses!
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